Marcus Marion, CMA™ The real estate industry is constantly changing. Arguably the most lucrative investments anyone can make is in real estate. The question is why several individuals have difficulty with it.
It turns out success begins with mental and behavioral preparation. You’ll also need a solid education in the real estate industry to help you bridge the learning gap. Learning from the experts is one of the best methods to bridge this gap.
To help you begin your journey in 2023, this post reviews the ten best books on real estate investing accordingly. These books help you get a great deal of knowledge and benefit from the case studies of successful real estate investors at the top of their game.
1. The Millionaire Real Estate Investor by Gary Keller, Dave Jenks, and Jay Papasan
We strongly advise reading “The Millionaire Real Estate Investor” if you genuinely intend to use real estate to grow your net worth. It is a manual produced by seasoned investors and entrepreneurs.
The contents of this book are organized into three parts: “Think a Million,” “Buy a Million,” and “Own a Million.” Also, the first part of the guide teaches you how great investors think and behave, covering topics like goal setting and building a solid team.
The authors also talk about different kinds of properties, ways to pay for them, how to negotiate, and what they call “due diligence.”
The second section discusses locating and assessing investment opportunities, structuring transactions, and building an industry expert network. The book concludes with guidance on managing and expanding real estate portfolios, such as property administration, developing systems and processes, and reinvesting profits.
Throughout the book, the author employs case studies and illustrations from real-life situations to show how the writers’ points work.
2. Real Estate Investing for Dummies by Eric Tyson and Robert S. Griswold
Whether you’re just starting or have years of knowledge, this book will be a valuable resource for your real estate journey.
This book explains everything you need to know, like the different kinds of real estate purchases, how to finance them, how to figure out how much money you could make, and how to manage your cash flow.
In addition to this, Tyson and Griswald offer some helpful advice on the following:
- Searching for real estate properties
- Contract negotiations
- Developing a long-term investment plan
This book gives you deep insight into real estate investing, including the legal and regulatory elements.
3. The Real Book of Real Estate by Robert Kiyosaki
This book is for you if you want to use real estate as your primary financial security means. Kiyosaki provides actionable guidance on every facet of real estate investing, regardless of whether you are just starting or are an experienced investor.
He talks about his experiences and advises on becoming financially independent via real estate. For example, he talks about recognizing market trends and putting together an effective investment team.
In addition, he stresses the significance of obtaining a solid education in finance and formulating an organized strategy to achieve one’s financial targets. This all-inclusive guide is necessary for anyone who wants to amass wealth through real estate investing because it also contains advice on reducing tax liability and increasing cash flow.
4. Real Estate Investing Gone Bad by Phil Pustejovsky
This book is a cautionary tale, teaching readers how to avoid common pitfalls when investing in real estate. It discusses the typical errors investors fall into and solutions for bouncing back from financial setbacks while developing profitable portfolios.
When it comes to real estate investing, Pustejovsky stresses the need for knowledge and research and provides tips for dealing with challenging situations like troublesome tenants, unforeseen costs, and market volatility.
Anyone who desires to engage in real estate investing would benefit significantly from consulting this resource because it teaches you how to get back on track after personal errors and the mistakes of those in your team.
5. The E-Myth Real Estate Investor by Michael E. Gerber and Than Merrill
This book discusses the essential elements of a successful company plan, such as market research, funding, branding, and marketing tactics.
Gerber and Merrill emphasize the need to work with a group of trained and qualified experts. In addition, they give readers actionable tips, case studies, and investment success stories.
Basically, this book strongly emphasizes the value of adhering to an elaborate plan and target and using one’s achievements and mistakes to hone and enhance one’s investing strategy. You’ll also see the E-Myth point of view, which stresses starting a company rather than merely buying properties.
6. Mastering the Art of Commercial Real Estate Investing by Doug Marshall, CCIM
Doug Marshall’s “Mastering the Art of Commercial Real Estate Investing” teaches its readers all they need to know to become successful real estate investors, including the six “laws” of purchasing properties in this industry, finding the best financing for any specific investment property, and running a successful business with different commercial spaces.
Marshall has worked in commercial real estate for over three decades and started Marshall Commercial Funding, Inc., a company that helps people get commercial mortgages.
7. The ABCs of Real Estate Investing by Ken McElroy
There are multiple routes to real estate investing success, and this book contains over 40 real-life examples of how other investors made it big. And no doubt, many of the tales will strike a chord with you. Each individual and their story is unique, although you may notice several patterns.
This book was written by Ken McElroy, one of the consultants of the rich dad (Robert Kiyosaki). He has good judgment and appeared on several investment programs and podcasts nationwide, making him a significant player in the current real estate market.
Although his current interests lie primarily in large apartment buildings, he cut his real estate teeth on smaller properties. Some investors like to start with larger residences like apartment buildings while working their way down to single-family homes, duplexes, and fourplexes, while others prefer the reverse.
Consider this book similar to a real estate investment 101 course, except the author discusses other ways to increase wealth and cash flow in the real world.
8. Long Distance Real Estate Investing by David Greene
Long-Distance Real Estate Investing is the final book in David Green’s series of books on real estate investment. Apart from the catchy title, the contents of this book are worth every dime you’ll spend on it.
It’s an excellent good that graciously breakdown how anyone can go from buying, rehabbing, managing, and profiting from out-of-state rental properties.
You can classify this as a Bigger Pockets book. However, he does warn about the dangers of investing in a volatile market that is too costly for a buy-and-hold strategy. It also answers questions like:
- How do I capitalize on creating riches through real estate?
- How do I avoid market volatility or the next market crisis?
- How do I position myself in a market so I can begin investing?
The key takeaway from this book is to learn the ways of thriving in the real estate market, irrespective of wherever you live and wherever you decide to invest. You’ll also learn to pick the ideal markets, communities, rentals, and groups and how to avoid letting your location limit your financial freedom.
9. The Book on Flipping Houses by J Scott
Most viewers of HGTV will be familiar with the real estate technique called flipping houses. In his book “The Book on Flipping Houses,” J. Scott outlines a simple strategy for accomplishing just that.
He demonstrates to readers ways to finance a flip, assess its profitability, choose the right asset to invest in, choose the ideal area for starting your career in property flipping, and develop a work scope, budget, and timetable to guarantee your flip is lucrative.
Scott, who has experience in Silicon Valley and large corporations, follows his own advice. He and his wife left their professions in the business world to focus on real estate flipping full-time, and they have now made over $60 million.
10. The Book on Rental Property Investing by Brandon Turner
Brandon Turner’s “The Book on Rental Property Investing” is a great place to begin if you wish to dive into real estate investing, especially rental property investing.
Everything from getting started to setting up revenue streams from rental properties to frequent mistakes made by real estate investors to find fantastic offers on rental property investments are covered in Turner’s 400-page guide. Additionally, Turner co-hosts the BiggerPockets Podcast if you wish to hear from him.
This book will help you learn all you need to know to make money in the rental estate market, from creating a workable plan to finding reasonable offers to analyzing those properties and transactions to building your staff and handling the finances of rentals.
Summary
Successful real estate investors are always looking to expand their knowledge. By keeping up with changes in your business, learning more, getting better at what you do, adjusting to new technologies, and building your connections, you can remain ahead of the curve and take advantage of new opportunities.
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